Donald Trump Urges All Bitcoin Mining to Stay in US, Targets Biden in Latest Crypto Push

By Madz Dizon

Jun 13, 2024 12:20 AM EDT

Donald Trump Urges All Bitcoin Mining to Stay in US, Targets Biden in Latest Crypto Push
Republican presidential candidate, former U.S. President Donald Trump speaks during his campaign rally at Sunset Park on June 09, 2024 in Las Vegas, Nevada.
(Photo : Brandon Bell/Getty Images)

Donald Trump is reaffirming his support for cryptocurrency, expressing his desire for all future Bitcoin mining to take place within the United States.

Trump Sparks Debate with Pro-Crypto Stance Amid Biden Divide

In a passionate post on Trump's Truth Social platform, the Republican presidential candidate emphasized the potential of mining crypto at home to enhance our energy dominance.

During a fundraising event in San Francisco, Donald Trump announced his intention to become the "crypto president."

It's debatable whether the claim holds true, considering the significant strain a crypto-mining farm puts on a local power grid. 

However, it's evident that he is attempting to distinguish his candidacy from President Joseph R. Biden's administration, which has shown greater skepticism towards cryptocurrency.

In a recent announcement, Trump revealed that his fundraising campaign would now accept cryptocurrency donations. 

This move was seen as a show of support for those who oppose excessive government control over financial markets, ReadWrite reported.

Soon after Trump was convicted of manipulating business records, his wallet received a surge of meme coin donations totaling over $30M.

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Trump Consults Musk on Crypto Policy, GOP Convention Role

Based on information from an insider at The Wall Street Journal, it has been reported that Trump sought advice from Musk regarding cryptocurrency policy and explored the idea of having the tech mogul speak at the Republican convention. 

If Trump successfully wins the November election, Musk may have the opportunity to assume a comprehensive advisory position, TechReport stated.

If these actions are true, they showcase Musk's significant political clout. The tech entrepreneur's companies frequently receive federal contracts, and his views on X during elections significantly impact how voters perceive the issue.

In contrast to the purported conversation between Trump and Musk, there is concrete evidence of the former president's meeting with CleanSpark chairman Matthew Shultz and Riot Platform CEO Jason Les. 

Shultz asserts that Trump has a strong affinity for Bitcoin and greatly admires the efforts of local mining companies.

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